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Your Finance Agreement.

General

How can I find out how much of my finance has been paid off?

To find out details of your payment history, please call us on 0370 5050 150.

Can I take my car abroad?

Subject to your motor insurer's terms and conditions, you can take your BMW to any country in the EU for a continuous stay of up to 30 days and cannot exceed 60 days in any calendar year. If you plan to travel abroad, please contact our Customer Service Team on 0370 5050 150 to inform us and contact your insurer also.

I have a problem with my vehicle, what do I do next?

In the first instance you should address any concerns you have with your vehicle with your local BMW Centre who will be happy to assist you. To locate your nearest BMW Centre, please click here.

How can I check whether the car I’m thinking of buying has finance outstanding on it?

You can speak to your local BMW Centre who will be able to check this for you or you can check direct with HPI at www.hpicheck.com.

Making Changes to your Agreement

How do I change my payment date?

You will need to call us on 0370 5050 150 to change your payment date. We can move the date your direct debit is taken to within 15 days of your original payment date. The first date change you request is free of charge, any subsequent changes are charged at £50.00.

How do I update my bank details?

Please complete a new Direct Debit Mandate Form using the link at the bottom of this section and send it to us via one of the following methods:

Once we have received the updated mandate form, it will take 5 working days for this to be set it up with your bank. It may be necessary for you to make alternative arrangements for your next payment if this is due within 5 days of submitting the request.

Please note we cannot collect any money due under the agreement from anyone other than you.

How do I update my personal details?

If your name or address has changed, please let us know so that we can keep your details up to date. Simply submit any changes to us via our online contact form by contacting BMW Financial Services. Please note that if you have changed your name, we will need to see a copy of your marriage certificate.

Is it possible to extend my agreement?

Road Tax.

Do I still need a tax disc for my BMW?

From 1 October 2014 the paper tax disc will no longer be issued and thereby removing the legal requirement to display a valid tax disc. Registered keepers of vehicles will however still be required to purchase Vehicle Excise Duty (VED).

How do I check my vehicle has valid road tax?

Are there any other changes that may affect me?

The DVLA is making two other changes to legislation. Vehicle Excise Duty (VED) will no longer be transferable and any un-used tax will be refunded automatically when the DVLA is notified that a vehicle has been sold, disposed of into trade or SORN’d.

Payment Queries

How much will it cost me to pay off my agreement early?

This will depend on a number of factors. To request a settlement figure please use our online contact form by clicking here or call us on 0370 5050 150.

My car has been written off/stolen and I am waiting for the money from the insurance company. Should I stop my payments?

If your car has been written off or stolen, please notify us on 0370 5050 150 as soon as possible. You must continue making your monthly payments until the matter has been resolved with your insurance company. Please note, if you choose not to maintain your monthly payments this could have an adverse affect on your credit rating and may affect your ability to obtain credit in the future. Interest may be charged on any amounts unpaid.

What do I do if my car has been written off/stolen and my insurance pay out doesn't cover what I still owe on my finance agreement?

If the amount paid out by your insurance company is insufficient to cover the outstanding balance on your agreement, you will be required to pay the difference between the insurance company settlement figure, and the amount due to us in settlement of your agreement. If, however, you have BMW Shortfall insurance and paid all the premiums, this will pay the difference, up to the level of cover you choose, between the insurance company settlement and the amount due to settle your agreement.

Can I take a payment holiday?

BMW Financial Services does not operate a payment holiday policy.

I’m having difficulties making my monthly payments, what should I do?

Please contact us on 0370 5050 150 so that we can discuss your current situation and the possible options available to you.

Please be advised that if you choose not to maintain your monthly payments this could have an adverse affect on your credit rating and may affect your ability to obtain credit in the future. Interest may be charged on any amounts unpaid.

I’ve missed a payment(s)/one of my payments has been returned, what should I do?

If you make your monthly payments by Direct Debit, you should contact your bank in the first instance. For all other methods of payment, you should callus immediately on 0370 5050 150. It is important that you keep in contact with us to advise us of the situation and also to discuss how your payment(s) can be brought back up to date. Please call us on 0370 5050 150 and we will be happy to discuss the options available to you.

Please be advised that if you choose not to maintain your monthly payments this could have an adverse affect on your credit rating and may affect your ability to obtain credit in the future. Interest may be charged on any amounts unpaid.

How can I make payments?

Direct Debit - To make payment by Direct Debit please call us on 0370 5050 150. You will need to complete a Direct Debit Mandate Form, which you can download using the buton below, to confirm your new account details. Please be advised that we may ask for additional information if the bank account is not in your name.

Card Payment -This is the quickest way to make a payment, simply call our card payment line on 0370 5050 150. We accept the following credit or debit cards at no additional cost to you – Solo, Switch, Maestro, Visa Electron, Visa Debit, Visa, MasterCard, American Express.

Bank Transfer - Please call us on 0370 5050 150 and we will provide you with our bank details.

Standing Order - Please call us on 0370 5050 150 and we will provide you with our bank details, together with the instruction you need to complete and take to your bank.

Cheque Payments - Please make all cheques payable to BMW Financial Services, and send to the following address quoting your agreement number on the reverse of the cheque:

Looking after your BMW.

To take care of your BMW, you'll need to make sure that you carry out the regular vehicle checks advised in your Manufacturer's handbook. That includes ensuring:

Your tyre pressures are correct.

Antifreeze is added to your BMW cooling system. Please note, if this is not done, your BMW might suffer from frost damage therefore we might have to charge you for the cost of repairs.

Petrol and lubricants are topped up in-between services.

Tyres damaged by punctures and accidents are repaired or replaced as soon as possible.

The body work and interior are maintained. If you return the car to us, you'll be charged for any damage that is not considered to be fair wear and tear. In determining 'good condition' we apply British Vehicle Rental & Leasing Association (BVRLA) standards. You can find more information on this in both your BMW agreement or by viewing the BVRLA Fair Wear and Tear Guide.

Glass and Window Replacement

Every BMW windscreen is laminated, so it's highly unlikely to shatter. If your windscreen is chipped or suffers minor damage, it can be easily repaired at a BMW Centre while you wait. Sometimes these repairs or subsequent replacements are covered by your motor insurance policy, check with your insurance provider to see if you are covered.

If the damage is directly in front of the driver's line of vision, we recommend that a BMW Centre fits a new windscreen. For more serious and potentially dangerous windscreen damage, you should contact BMW Emergency Service for immediate assistance on 0800 777 111.

Please note, for Contract Hire customers with a maintenance package, repairs to damaged window and light glass are not covered under your agreement.

Alloy Wheels

Perfect. It’s what we seek to create and what BMW drivers expect. For many, owning a BMW is about every last detail being perfect, faultless and unblemished. Nowhere is this more acute than the alloy wheels; those things that look great to the eye yet are so often compromised by minor damage.

BMW Alloy Wheel Repair insurance protects you against the effects of kerbing and scuffing. It means true BMW craftsmanship, the latest repairs and the newest techniques will always be focused on keeping your alloy wheels looking like new, always.

Body work

The beauty of a BMW lies as much on the surface as it does in its driving dynamics. You want the perfect good looks of your new BMW to last forever: yet the constant scuffs, scratches, chips and dents of everyday driving say otherwise.

BMW Cosmetic Repair Insurance will insure you against the minor damages created by day-to-day motoring. It brings the finest BMW craftsmanship, fast repairs and state of the art techniques, to keep the appearance of your BMW as perfect as the day you bought it.

End of your agreement.

BMW Select.

With BMW Select, you have the flexibility to choose what happens at the end of your agreement.

We’ll write to you nearer the time to let you know your options, these are:

Pay the optional final payment and keep your BMW*

Part-exchange your BMW for a new one**

Return your BMW to us***

*Terms and Conditions

*Option to purchase fee and optional final payment payable at the end of the agreement if you decide to purchase the vehicle.

**A new agreement will be subject to status.

*** Excess mileage charges and excess wear and tear charges may be payable upon return of the vehicle.

BMW Contract Hire.

With BMW Contract Hire, you enjoy hassle-free motoring. At the end of your agreement, we’ll write to you reminding you that your hire period is due to end soon, and we’ll arrange for the collection of your BMW*. You can then choose to hire another BMW through your BMW Centre.**

*Terms and Conditions

*Excess mileage charges and excess wear and tear charges may be payable upon its return.

** A new agreement will be subject to status.

BMW Hire Purchase.

BMW Hire Purchase is a simple and straightforward way to purchasing your BMW. We’ll write to you nearer the time to remind you that your agreement is due to end soon. Simply make the final payment which includes the Option to Purchase Fee and the final part of your Credit Arrangement Fee, and providing that all other payments have been made, you will become the owner of your BMW.

If you pay by direct debit, this amount will be debited automatically from your account when the agreement ends.

FAQ.

Please find below some frequently asked questions when approaching the end of your agreement.

I’d like to choose another BMW. What should I do?

The easiest way to drive away a new BMW is to part exchange your current vehicle for a new one. Simply visit your local BMW Centre who will be able to explain the options available and give you all the help you need in finding a new car and the right finance solution. To locate your nearest BMW Centre, please click here.

I’d like to keep my BMW. What should I do?

BWW Select customers:

Simply make your final payment, which includes the Option to Purchase Fee and the final part of your Credit Arrangement Fee, and the car is yours to keep.

If you pay by direct debit, this amount will be debited automatically from your account when the agreement ends. If you don't pay by direct debit please ensure that we receive cleared funds before that day.

BWW Contract Hire customers:

Unfortunately you are not able to keep the BMW, however it might be possible to extend your agreement, therefore please call us on 0370 5050 150 to discuss this further. Please call us at least 60 days prior to the end of your agreement.

Can I keep the car and reschedule my final payment?

If you have a BMW Select agreement it may be possible to reschedule your final payment subject to our underwriting criteria. Initial enquiries can be handled by your local BMW Centre. Alternatively please call us on 0370 5050 150. Restrictions around term and mileage will apply.

I am returning my car, how do I arrange for it to be collected?

At least 10 days before your end of contract date call us on 0370 5050 150 to arrange a date for the inspection and collection of your car. You can also request a collection via our online contact form by contacting BMW Financial Services.

We will charge you a daily rate (your original monthly payment pro rated) if your car is not collected by its end of contract date.

You must also have made all monthly payments under the agreement

Our appointed logistics company will then inspect your car. You'll be charged for any damage that falls outside the British Vehicle Rental and Leasing Association's "BVRLA" Fair Wear and Tear guidelines. Click here for a copy of the guidelines.

Please note the following:

BMW Select customers:

In order for us to collect your car, please send us the V5C and the MOT certificate (if applicable) seven days before the collection date. Please complete, sign and retain the yellow section 9 of your V5C as you'll need to send it to the DVLA on the day we collect your car. When the DVLA receive your V5C they will automatically refund you any unused tax. If you can't find your V5C, contact the DVLA immediately on 0300 790 6802 and they'll send you a duplicate.

Once we receive your V5C your car can be collected on the agreed date. You'll need to leave your full service history with your car when it's collected.

If we have not received your V5C by the date your car is due to be collected, we will automatically order a duplicate document. There is a charge of £25 made by the DVLA which will be passed onto you together with an administration fee of £12.

You will be charged at the excess mileage rate shown in your agreement and will be invoiced for this amount after your car is returned. This invoice is payable immediately.

I have a personalised plate and I am returning my car, what should I do?

BMW Select customers:

If you would like to keep your personalised plate, please call the DVLA on 0300 790 6802 to obtain a retention certificate. You'll receive a new V5C containing your car's new registration number and then you must fit new plates at your own cost. Once this is complete please call us to arrange collection. This can take up to eight weeks so please allow plenty of time to do this, as your car must be returned to us by the end of your agreement and you can't return it until you have the new V5C.

BMW Contract Hire customers:

If you would like to keep your personalised plate, please call us on 0370 5050 150 to obtain an Application to Retain a Vehicle Registration Number form V317. This form needs to be completed by you and returned to us with the appropriate DVLA fee. We will then send this to our local Vehicle Registration Office who will then put your plate onto retention. Please note that this can take up to eight weeks. We will receive the new V5C (log book) from the DVLA. We will also receive confirmation of the replacement registration number and will forward this to you. Please note that once you receive this you must fit new plates at your own cost. Once this is complete please call us to arrange collection.

If we don't receive anything from you and your plate is still on your car when you return it, we will assume you are happy for it to be sold with your car.

What do I need to do on the day of return?

You will need to be present when our appointed logistics company inspects your car, as you are required to sign to agree its return condition. No other individual is allowed to do this on your behalf. Please ensure your car is clean and accessible (with 2 metres access on all sides), road legal, and complete with all documentation including the spare keys and any other items supplied with your car. Your car must be taxed, insured and have a valid MOT up to the point that we collect it.

Remember our appointed logistics company will assess your car to the standards laid out in the BVRLA Fair Wear and Tear Guidelines and you will be charged for any damage outside of these guidelines. Please Click here to view the guidelines.

My car has been damaged. What should I do?

You should have your car repaired under your motor insurance policy before returning it to us. Any repairs must be in accordance with manufacturer recommendations. If there is unrepaired damage when your car is returned, you will be invoiced for the anticipated reduction in its value. This invoice is payable immediately. You must also tell us about any accident damage you've had repaired during the agreement.